Overview
- Chancellor Rachel Reeves is expected to confirm the 4.8% uprating at the Autumn Budget on November 26, reflecting the triple lock’s earnings measure.
- Because of the two-pension system, those on the full new state pension are set for about a £575 annual increase, while basic state pension recipients would see roughly £440.
- Projected 2026/27 rates point to the full new state pension rising to £241.30 a week and the basic state pension to £184.90 a week.
- Around 453,000 pensioners living in countries without reciprocal agreements with the UK will not receive next year’s uprating.
- Fiscal pressures are intensifying as unemployment reaches 5%, with a petition calling the triple lock unaffordable and reports that the Government is exploring broader tax measures.